The brightness enhancement films market is on a robust growth trajectory, with a projected impressive Compound Annual Growth Rate (CAGR) of 7% during the forecast period. Starting at a valuation of US$ 9.9 billion in 2022, the market is expected to surge to US$ 19.47 billion by 2032. This expansion is primarily fueled by the widespread applications of brightness enhancement films in the manufacturing of flat control displays, spanning a wide range of devices such as smartphones, TVs, laptops, desktop monitors, and aerospace and automotive display panels.
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Additionally, the market benefits from the growing emphasis on on-axis viewers and thin displays. However, while numerous opportunities beckon, the industry also faces certain challenges that could affect its full growth potential. One notable trend in the market involves collaborative efforts with consumer electronics manufacturers to expand global reach, underscoring the competitive dynamics of the sector.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global brightness enhancement films market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales brightness enhancement films in the coming 10-years
Growth Opportunities in Brightness Enhancement Films Industry:
- Increased Demand in Electronics: Growing consumer demand for high-quality displays in smartphones, tablets, and other electronic devices is a key driver for brightness enhancement films, presenting a significant growth opportunity.
- Advancements in Display Technologies: The continuous evolution of display technologies, such as OLED and microLED, creates opportunities for brightness enhancement films to enhance the performance of these displays, contributing to market growth.
- Rising Adoption of Automotive Displays: The automotive industry’s increasing integration of advanced display systems, including infotainment and heads-up displays, offers a promising avenue for brightness enhancement films to improve visibility and clarity in various lighting conditions.
- Emerging Markets in AR/VR Devices: As augmented reality (AR) and virtual reality (VR) technologies gain traction, brightness enhancement films play a crucial role in enhancing the visual experience, providing a growth opportunity in the AR/VR device market.
- Focus on Energy Efficiency: With a growing emphasis on energy-efficient technologies, brightness enhancement films that enable brighter displays without significantly increasing power consumption are likely to see increased demand, especially in the context of portable devices.
Industry Trends:
- Transition to Flexible Displays: The industry is witnessing a trend towards flexible and foldable displays, and brightness enhancement films are adapting to these developments to maintain optimal performance in bendable screens.
- Integration of Anti-Glare Features: Brightness enhancement films with anti-glare properties are gaining popularity, aligning with the trend of reducing reflections and improving visibility in outdoor environments, particularly in portable devices.
- Rise of Sustainable Solutions: Environmental considerations are influencing the market, leading to a trend of developing brightness enhancement films using sustainable materials and manufacturing processes to meet the demand for eco-friendly display technologies.
- Collaborations for Technological Advancements: Collaboration among manufacturers, technology providers, and research institutions is a trend aimed at advancing the technology behind brightness enhancement films, fostering innovation and keeping pace with evolving display requirements.
- Increasing Focus on Wearable Technology: The growing market for wearable devices, including smartwatches and augmented reality glasses, is driving the demand for compact and efficient brightness enhancement films to enhance the visibility of displays in small form factors.
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Key Players:
- 3M company
- Mitsubhi Rayon Co. Ltd.
- Fusion Optix
- Nitto Denko Corp
- SABIC
- DuPONT
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
These market players are anticipated to drive the brightness enhancement films market by introducing new products and expanding geographically.
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Recent Developments:
- 3M Company introduced dual brightness enhancement films to help optics and display manufacturers to meet the requirements to modify display features in various consumer electronics products.
- DuPONT Electronics & Imaging is expanding by investing US$ 220 million in the production plant in Ohio, U.S. The new production facility will increase company’s production of Pyralux flexible circuit materials and Kapton polyimide film.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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